Stucco Triplex with Rental
For Sale
$389,900
Pending
875 S Lake Shore Way, Lake Alfred, FL 33850
Residential Income, Lake Alfred, FL
Property Size1,609 SF
Lot Size0.33 Acres
Days on Market44
Property Features for 875 S Lake Shore Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Rooms
Laundry Room, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2
Subdivision
33850 - Lake Alfred
High school district
000000
Directions
Driving Directions from I-4 (Closest Interstate) From Interstate 4 (I-4) - Exit 48 (CR 557 / Lake Alfred): Take Exit 48 toward Lake Alfred / CR 557. Head south on CR 557 for approximately 2.5 miles. Turn left onto US Highway 17/92 (S Lake Shore Way). Continue for approximately 0.3 miles. 875 S Lake Shore Way will be on your right.
Standard status
Pending
APN
26-28-05-525000-002090
Size
1,609 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4043
Utilities
Sewer type
Septic Tank
Water source
Public
Building Details
Year built
1945
Building materials
Stucco
Architectural style
Other
Listing Agency:
La Rosa Realty Llc
(321) 939-3748
Listed By:
Christopher Rivera Alamo · License #3484310
(407) 883-5297
Added: Jul 27
Changed: Sep 7
Last Checked: Sep 8 at 11:06AM
MLS# 11906561
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex contains 1,609 square feet and was constructed in 1945 with stucco exterior materials. The layout includes six bedrooms and a laundry room, supporting the property's three grandfathered rental units.
The property occupies 0.33 acres at 875 S Lake Shore Way in Lake Alfred, Florida. Public water and a septic tank serve the site, providing the documented utility configuration for this multifamily property.
The property occupies 0.33 acres at 875 S Lake Shore Way in Lake Alfred, Florida. Public water and a septic tank serve the site, providing the documented utility configuration for this multifamily property.
Key Highlights
- Three grandfathered rental units
- 1,609 square feet on 0.33 acres
- Six‑bedroom layout with laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,060
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,200
$341.2K
Cap Rate 7%
$243,714
$243.7K
Cap Rate 9%
$189,556
$189.6K
Market Conditions
NOI Build-Up for 1,609 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.1K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.4K $15.15/SF
− OpEx
−$7.3K −$4.54/SF
NOI
$17.1K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,200
Cap Rate 7%
$243,714
Cap Rate 9%
$189,556
Alternative Uses
Best Use
Multifamily LT 5
$243.7K
$213.3K – $284.3K
NOI $17,060 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$217.7K
$190.5K – $254.0K
NOI $15,240 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$386.7K
$338.3K – $451.1K
NOI $27,066 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 33850, FL
9,119
Population
4,947
Households
1.8
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
16.8 sq mi
ZIP Area
543
Density / Sq Mi
$53,877
Median Household Income
$36,563
Median Earnings
$1,072
Median Rent
$215,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three grandfathered rental units provide an established multifamily configuration on a 0.33-acre parcel.
Where is this triplex located?
The property is located at 875 S Lake Shore Way Lake Alfred, FL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three grandfathered rental units; 1,609 square feet on 0.33 acres; Six‑bedroom layout with laundry room
